Consumer Information

Overseas travel insureance

Insurance situation arising from travel
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Buying insurance

Cover your property losses
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Guidelines for resolving disputes

This is how member companies resolve disputes.
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Commercial insurance

Insure against businessesdisruption
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Liability insurance

Liability Insurance is available in a number of forms covering specific Liability risks.
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Motor insurance

Motor vehicle insurance can cover you against accidental loss or damage to your vehicle
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Personal insurance

The types of cover available under personal insurance
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Marine insurance

Cover for commercial vessels and personal pleasurecraft
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Insurance fraud

An insurance claim is considered fraudulent when it is based on facts that are simply untrue
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Contents insurance covers the contents of your home:

• Household possessions
• Furniture
• Clothes
• Appliances
• Carpets and curtains

Most contents policies have claims limits, especially for valuables, money, documents and collections. Different policies have different restrictions.

There may also be conditions to the cover. You should check these with your insurance company.

Types of Cover

There are two types of cover available:

1. Replacement policies
   This means that the insurance company will replace a lost or destroyed item with a new one or repair the item so it is as new. However there are some limits to this (ie. items over a certain age may not be replaced). Check the wording of your insurance policy.
   
   With replacement insurance, the item is usually repaired or replaced. If you want the cash, you can only get the indemnity value of the item.
   
   There is also an upper limit on what you can claim. This is specified in the insurance policy as the sum insured. Open-ended policies are available from some insurance companies.
2. Indemnity policies (present value)
   An indemnity policy puts you back in the same position you were in before the loss or damage occurred. The settlement is based on how much you would pay for the item second-hand.

 

• For more information on the insurance of jewellery, please refer to the Insurance Council publication "A Guide to Jewellery Insurance".

 

 

 

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